Media OutReach
Coface Asia Payment Survey 2025 Companies expect payment behaviours to worsen amid economic uncertainty
- Average payment terms rose slightly to 65 days in 2024 from 64 in 2023
- The average payment delay was unchanged at 65 days in 2024 but the share of companies experiencing payment delays dropped to 49%.
- The share of companies reporting ultra-long payment delays (ULPDs[1]) exceeding 2% of annual turnover rose to a new high at 40%, up from 23% in 2023. Wood, Agro-food and Automotive reported the highest increase.
- 57% of companies expect payment behaviours to worsen in the next six months, citing slowing demand, competitive pressure, and rising costs as top risks.
- 33% of companies expected business outlook to deteriorate in 2025.
“Asia-Pacific experienced a slowdown in growth in 2024 due to slow growth in global demand, rising costs and high interest environment. The record surge in ULPDs signals that companies expect to face mounting financial strain. Along with escalating tariffs, businesses are bracing for a more volatile trade and policy environment. We have revised the GDP growth forecast for Asia to 3.8% in 2025. ” said Bernard Aw, Chief Economist for Asia-Pacific at Coface.
Credit terms still tight and may tighten ahead
Credit conditions remained tighter in 2024 compared to before 2023. Payment terms rose from 64 days in 2023 to 65 but below the five-year average of 69 days in 2018-2022.
Ten of the 13 sectors surveyed saw their payment terms increase in 2024. The sharpest rise was recorded in the automotive sector followed by textiles and chemicals. Increasing competition in the auto market prompted dealers to be more flexible in granting credit and to use it as a competitive tool.
Looking ahead, two-thirds of companies expect shorter payment terms, reflecting caution and higher priority for cash preservation amid heightened uncertainty.
Rising concern as ultra-long payment delays hit record high
The average payment delay remained stable at 65 days, unchanged from 2023.
Transport and Automobile reported higher payment delays (respectively +2% and +1% vs 2023).
However, the share of companies reporting ULPDs – payment delays over 180 days and exceeding 2% of annual revenue – rose dramatically to a new high at 40%, up from 23% in 2023. This represent a very high risk, given that 80% of these delays have never been paid, according to Coface’s experience. Such delays were highest in China, India, Thailand and Malaysia. All 13 sectors also saw increased ULPDs, with the most notable increases in Wood (+37%), Agro-food (+20%) and Automotive (+18%).
This trend is expected to continue over the next six months as 57% of companies expected a deterioration in late payments.
Outlook: Shifting trade policies expected to impact economic sentiment
We expect the economic outlook for 2025 to continue to weaken. Higher tariffs and shifting trade policies have increased uncertainty over global economic policy, weighing heavily on business spending and consumer confidence. In addition, companies also cite over-competitive pressures, slowing demand and higher labour costs as additional risks.
33% of respondents expect business activity to deteriorate in 2025 (vs 2024), more than double as compared to last year’s survey. Taiwan and Singapore were the most pessimistic, where over 4 out of 10 respondents expect deteriorating business activity.
‘Asia-Pacific growth slowed in 2024 as demand weakened. The rebound in trade last year has marginally offset the decline in 2023. In the face of continued and heightened geo-political uncertainty and increasing costs, many businesses are anticipated to strengthen their credit management measures and prioritise cost management.’ said Bernard Aw, Chief Economist for Asia-Pacific at Coface.
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The issuer is solely responsible for the content of this announcement.
COFACE: FOR TRADE
As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring. Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets. In 2024, Coface employed ~5 236 people and recorded a turnover of ~€1.84 billion.
GoTyme Bank becomes the first digital bank in the Philippines to enable Apple Pay, expanding secure and seamless digital payments for 10 million customers
MANILA, PHILIPPINES – Media OutReach Newswire – 18 August 2026 – Paymentology, the leading global issuer processor, today announced the successful launch of Apple Pay for GoTyme Bank in the Philippines. Through this launch, GoTyme becomes one of the first issuers in the Philippine market to enable Apple Pay, giving 10 million customers an easy, secure and private way to pay using their Apple devices.
As one of the country’s fastest-growing digital banks, GoTyme continues to accelerate its digital payments strategy by expanding secure, seamless and convenient payment experiences for Filipino consumers. Customers can now securely add their GoTyme debit card to Apple Wallet and make contactless payments in stores, within apps and online wherever Apple Pay is accepted.
Apple Pay uses industry-leading tokenisation technology, meaning card numbers are never stored on devices or shared with merchants. Instead, a unique Device Account Number is assigned, with every transaction authenticated through Face ID, Touch ID or a device passcode, providing an additional layer of security while delivering a fast, frictionless checkout experience.
Nate Clark, President and CEO at GoTyme Bank commented: “At GoTyme Bank, we’re constantly looking for ways to make banking simpler, safer and more rewarding for our customers. Bringing Apple Pay to GoTyme Bank customers in the Philippines gives them an easy and secure way to pay wherever they shop while continuing to earn rewards points on all their transactions. This is another step in our commitment to making everyday banking more beautiful and convenient for our customers.
The launch comes as digital payments continue to reshape the Philippine economy. According to the Bangko Sentral ng Pilipinas (BSP), digital payments now account for more than half of all retail payment transactions, as consumers increasingly embrace mobile-first banking and contactless payments. Meanwhile, smartphone penetration continues to rise, supporting growing demand for digital wallets and tokenised payment experiences. As digital commerce accelerates, enabling secure mobile payments through services such as Apple Pay is becoming an increasingly important differentiator for financial institutions.
Minh-Ha Truong, Head of Growth, APAC at Paymentology, added: “As a long-standing partner to GoTyme, we’re proud to support another significant milestone in its growth journey. Bringing Apple Pay to market demonstrates how modern, cloud-native issuer processing enables digital banks to rapidly deliver innovative payment experiences while maintaining the highest standards of security, scalability and performance. Together, we’re helping shape the future of digital payments in the Philippines.”
The launch further strengthens GoTyme’s position as one of Southeast Asia’s leading digital banks and highlights the value of Paymentology’s cloud-native issuer processing platform in helping banks and fintechs rapidly introduce innovative payment capabilities that meet evolving customer expectations.
Hashtag: #Paymentology
https://www.paymentology.com/
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Media OutReach
New Documentary Under the Hakka Liugdui Sun From Discovery to Debut on August 20 in Southeast Asia
Set against the sun-drenched landscapes of southern Taiwan, Under the Hakka Liugdui Sun highlights how the people of Liugdui have thrived alongside the land for over 300 years. Following local scholars, farmers, and artisans, the documentary explores how this community adapts its deep-rooted traditions—from water stewardship to food heritage—in response to environmental and economic change, offering vital modern insights on sustainability, rural revitalization, and cultural continuity.
Across three episodes—Water, agriculture, and food—the documentary explores how the people of Liugdui blend tradition with modern innovation. Viewers meet groundwater experts, farmers pioneering sustainable crops, and artisans repurposing local materials like betel nut, alongside culinary practitioners who preserve Hakka identity through ancestral rituals, communal feasts, and family traditions that unite generations.
Audiences will discover a community that views tradition not as something fixed in the past, but as a living legacy that continues to evolve. From innovative groundwater management and botanical dyeing to ritual feasts and modern interpretations of Hakka cuisine – the documentary celebrates the creativity, resilience, and values that have sustained Liugdui for centuries.
Under the Hakka Liugdui Sun premieres in Southeast Asia on Discovery Channel, Thursday, August 20 at 7:10pm; TLC Channel, Monday, August 24 at 7:10pm; and Discovery Asia, Tuesday, August 25 at 9:25pm.
Hashtag: #Discovery
The issuer is solely responsible for the content of this announcement.
About Discovery Channel
The launch press conference broke away from tradition with a vibrant runway show featuring celebrity “Hot Spring Travel Navigators,” including acclaimed chef Edward Lee from Netflix’s Culinary Class Wars, visual identity creative director Yen Po-Chun, TSUTAYA BOOKSTORE Taiwan Chairman Kazuma Otsuka, and actor-host Andrew Chau. Together with local businesses, they showcased regional agriculture, specialties, and lifestyle products.
The official launch celebration kicks off on September 4 at Guguan Park in Taichung, featuring a themed parade with over 500 participants and the lighting ceremony for the Lishan–Guguan Light Art Festival, which stars a massive eight-meter “OhBear” light installation. The festivities continue on September 5 with a guided tribal trekking tour in Guguan, offering participants an exclusive NT$500 accommodation discount.
To promote four-season wellness tourism globally, the campaign partners with the East Asia Hot Spring Association for an international symposium on September 4. Key promotions also include complimentary LINE POINTS for new followers, curated packages starting at NT$299, and a flash sale of 800 limited NT$1 Hot Spring Vouchers for the Double 11 Shopping Festival. Furthermore, cross-sector collaborations offer half-price entry to national forest areas, limited-edition Taiwan Railway bento boxes, and Guanziling mud spring skincare products to enrich the travel experience.Hashtag: #TaiwanFourSeasonSprings
https://www.trimt-nsa.gov.tw/zh-tw/
The issuer is solely responsible for the content of this announcement.
